26 Oct 2015 11:23

SEB, others issue manifesto for green economy

Within the framework of United Nations’ Environmental Program, SEB and nine other banks around the world have issued a Positive Impact Manifesto. The manifesto calls for an impact-based approach to banking, offering a vision of the banking sector’s central role in achieving sustainable development.

Over the next couple of years the ten banks, will be working with peers, clients, and other stakeholders to deliver a set of Positive Impact Principles that will guide providers of financial services in their efforts to increase their positive impact on the economy, society and the broader environment.

The group also aims to establish a Positive Impact Incubator to try out new business models and financing approaches, helping banks and their corporate customers to find workable financing solutions for projects that make a positive impact on the environment. Ultimately, the ten banks expect a series of pilot projects to deliver a market place where needs, solutions and financing can be matched effectively.

“At SEB we have pioneered the concept of green bonds that give mainstream investors access to climate-related investment opportunities. We want to use our experiences to help develop additional solutions that have a positive impact on the environment,” says Jonas Solehav, Environmental Manager at SEB.

The banks that currently are part of the working group are: BMCE Bank (Morocco), ING (Netherlands) Nedbank (South Africa), Piraeus Bank (Greece), Société Générale (France), SEB, Standard Bank (South Africa),Triodos Bank (Netherlands) Westpac (Australia) and Yes Bank (India).